NSE resumes Easter holidays with N78bn loss



By Chinyere Joel-Nwokeoma

The Nigerian stock market recovered from the Easter holidays on Tuesday with a loss of 0.39% due to a persistent downtrend.

More specifically, the All-Share index lost 150.13 points or 0.39% to close 38,766.61 against 38,916.74 obtained Thursday.

In addition, market capitalization fell 78 billion naira to close at 20,283 billion naira from the 20,361 billion naira achieved on Thursday.

The market loss is due to the depreciation in prices of large and mid-cap stocks, including Guinness Nigeria, MRS Oil Nigeria, Guaranty Trust Bank, BUA Cement and Aluminum Extrusion Industries.

Market sentiment turned negative with 21 laggards, compared to 14 winners.

MRS Oil led the losing chart in terms of percentage of 9.92 percent to close at 10.90 Naira per share.

Aluminum extrusion industries followed with a drop of 9.88% to close at N 7.30, while Consolidated Hallmark Insurance lost 9.38% to close at 29,000 per share.

Sterling Bank lost 8.65 percent to close at 1.69 Naira, while Guinness Nigeria fell 8.08% to close at 33 Naira per share.

Conversely, Eterna dominated the winners chart in terms of percentage, gaining 9.91 percent to close at N5.99 per share.

Linkage Assurance followed with 9.72 percent to close at 79k and Royal Exchange rose 9.09 percent to close at 36k per share.

Japaul Gold and Ventures rose 8.89 percent to close at 49k, while FCMB Group gained 4.59 percent to close at Naira 2.96 per share.

In addition, the total transaction volume decreased by 6.19 percent with an exchange of 224.59 million valued at 2.14 billion naira in 4,675 transactions.

That was against 239.42 million shares worth 2.32 billion naira traded in 4,445 transactions on Thursday.

Transactions in shares of UACN topped the activity chart with 34.05 million shares valued at 337.61 million naira.

Access Bank followed with 26.35 million shares valued at N 214.93 million, while FBN Holdings traded 18.93 million shares valued at N 137.44 million.

Zenith Bank traded 16.59 million shares valued at N364.34 million, while Fidelity Bank traded 15.31 million shares valued at N39.15 million. (NOPE)


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